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26 Oct 2021
Introduction
Since 1900, Table 19.7 shows the trend of recessions and recoveries in the US industry. The peak is the highest point in the economy first before the recession starts. The trough, on the other hand, is the weakest level of a recession before such a rebound begins. In other words, the economic cycle is the motion of the economy between height to trough and trough to the maximum.
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